Cortland acquires Pure Multi-Family for $1.2bn.

Cortland Partners, a product-to-people, multi-family real estate investment, development, and management company acquires Pure Multi-Family REIT, a Canadian based, publically traded vehicle which offers investors exposure to attractive, institutional quality US multi-family real estate assets for $1.2bn. Unitholders to receive US$7.61 per Unit in cash, representing a premium of 15% to the closing price per Unit on the TSX on June 26, 2019. Completion of the Transaction is subject to customary conditions, including approval by unitholders at a special meeting, court approval and regulatory approvals. "We are thrilled to add Pure Multi-Family's high-quality communities to the Cortland family and further expand our platform in markets that we know very well." Steven DeFrancis, Cortland CEO.